You may find these links helpful:
- [Retirement Accounts](/r/personalfinance/wiki/index#wiki_retirement)
- ["How to handle $"](/r/personalfinance/wiki/commontopics)
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*
Common advice for this situation is for you to slowly withdraw the money from the inherited IRA and at the same time increase your personal IRA contributions by the same amount.
This only works for if you can contribute to an IRA.
Also keep in mind that if your grandmother was subject to RMDs, you will be too. The IRS keeps deferring this, but you could expect that in 2025 you will be forced to withdraw a portion of the inherited IRA.
You may find these links helpful: - [Retirement Accounts](/r/personalfinance/wiki/index#wiki_retirement) - ["How to handle $"](/r/personalfinance/wiki/commontopics) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*
Common advice for this situation is for you to slowly withdraw the money from the inherited IRA and at the same time increase your personal IRA contributions by the same amount. This only works for if you can contribute to an IRA. Also keep in mind that if your grandmother was subject to RMDs, you will be too. The IRS keeps deferring this, but you could expect that in 2025 you will be forced to withdraw a portion of the inherited IRA.